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How to log Capital Introduced

I am going to transfer a lump sum from my personal account to my business account for the purchase of an asset. How do I record this capital introduced? Will the transaction then be recorded on the balance sheet? I am a sole trader and do not have auto bank feed set up at the moment.

Hi @islandquay

You would just enter the transaction in the bank account and then tag it directly to the nominal - capital introduced

Thank you for your help, how exactly do I enter the transaction in the bank account, I am new to Quickfile and haven’t done this before. Do I have to create a sales invoice for it? Do I use code 3300 Capital Introduced for Sole Traders?

Hi @islandquay

You’ll need to create a new transactions showing money going into the account. At the top of the bank screen there is an option to enter a new transaction (you want to make sure that the date and details match that of your bank statement).

Once the transaction is showing in the bank account you can then tag it to code 3300

What do people normally put in the reference box?

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